Council of Registered Insurance Brokers of Ontario

Ministry

Finance

URL

www.ribo.com

Address

SUITE 1200, 401 BAY STREET, P.O. BOX 45
TORONTO
M5H2Y4

Phone

(416) 365-1900; 1-800-265-3097

Fax

(416) 365-7664

Background

Registered Insurance Brokers Act, RSO 1990, C. R.19, S. 6 (opens a new window)

O.REG 308/98 (opens a new window)

Function

The council is a self-regulating organization for insurance brokers. It is responsible for licensing and disciplining brokers. The Superintendent of Insurance has a statutory interest in the Council of Registered Insurance Brokers of Ontario. The council establishes and appoints a Qualifications and Registration Committee, one or more Complaints Committees, a Discipline Committee, and may establish additional committees as it considers necessary. A Complaints Committee considers and investigates complaints regarding the conduct or actions of any member of the Registered Insurance Brokers of Ontario. The Discipline Committee, when directed by the Council or by a Complaints Committee hears and determines allegations of misconduct or incompetence against any member of the Registered Insurance Brokers of Ontario.

Membership

The council is composed of four persons who are not brokers appointed by the Lieutenant Governor in Council and nine persons elected by the insurance brokers. A president and one or more vice-presidents, currently one, are elected annually from among and by the members.

The Lieutenant Governor in Council may appoint such number of persons as considered appropriate who are not members of the Registered Insurance Brokers of Ontario or members of the council to a panel of lay persons eligible to serve as members of the Complaints Committee and the Discipline Committee.

Term

Members appointed to the council or to the panel of lay persons eligible to serve as members of a Complaints Committee or the Discipline Committee serve for a term not exceeding four years and are eligible for reappointment for one term.

Meetings

Council members will have one to two meetings a month. Members of a Complaints or Discipline Committee may have four to five meetings a year. The timetable for meetings is set at the beginning of the year.

Remuneration

Appointees to the Council of the Registered Insurance Brokers of Ontario are paid by the Council.

Appointments & Vacancies